This office lease clause is a standard condition of limitation language dealing with issues of tenant defaults in fulfilling any of the covenants of the lease.
The New Jersey Condition of Limitation Clause is a legally binding provision that sets restrictions on the length of time an individual has to file a legal claim. This clause is commonly used in contracts and agreements to protect parties from being sued after a certain period of time has elapsed. In New Jersey, there are several types of Condition of Limitation Clauses that may be included in various contracts: 1. Statute of Limitations: This is the most common type of limitation clause in New Jersey. It refers to the timeframe within which a lawsuit must be filed based on the type of legal action. For example, personal injury claims have a statute of limitations of two years, while breach of contract claims have a six-year time limit. 2. Contractual Limitation Clause: This type of clause is specific to the terms of a particular contract and can further restrict the time period within which a claim must be brought. Parties may agree to shorten the statute of limitations established by the law, providing a shorter timeframe for filing a legal action. 3. Discovery Rule: In certain cases, the discovery rule can affect the limitation period. This rule helps individuals who may not immediately recognize that they have suffered harm due to an action or negligence. It allows the statute of limitations to begin only when the injury or harm is discovered, rather than when it occurred. 4. Tolling of Limitation Period: In some instances, the limitation period may be temporarily suspended or "tolled." This can occur when a plaintiff is unable to pursue a claim due to factors like being a minor, having a mental illness, or serving in the military. The time during which the limitation period is tolled does not count towards the overall time limit for filing a legal action. It is important to note that the specific language and terms of New Jersey Condition of Limitation Clauses can vary depending on the context and purpose of the contract. Additionally, the enforceability of these clauses can also be subject to legal interpretation, so seeking professional legal advice is recommended when dealing with such clauses.
